Important to increase revenues to 2016 state budget - Azerbaijani finance ministry

Timely funding will be provided regarding protected costs, including wages, social benefits, pensions and scholarships, Azerbaijani Finance Minister Samir Sharifov said at the board meeting, the ministry said in a statement released Dec.11.

Samir Sharifov made the remarks speaking about the importance of increasing the centralized and local 2016 budget revenues and savings on non-priority areas, with the exception of protected costs and the expenses treated as such.

The ministry of finance at the board meeting Dec.11 has approved the Action Plan for the implementation of instructions assigned to the office by the law on state budget for 2016.

The document of the ministry of finance states that the 2016 budget was drawn taking into account the impact of global economic processes on the country, reducing the surplus in foreign exchange earnings and turnover, as well as decline in oil prices.

Revenues of the state budget for 2016 are projected at 14.566 billion manats, expenses - 16.264 billion manats.